The specific legacy refers to a gift or bequest in a will that is designated for a particular item or asset, such as a piece of property, a specific sum of money, or a valuable possession. This type of legacy is distinct from a general legacy, which is a gift of a specified amount of money from the overall estate. The specific legacy ensures that the intended recipient receives the designated item or asset as outlined in the will.
A specific legacy refers to a gift of a particular item or property that is specifically identified in a person’s will.
Yes, a specific legacy can be given to multiple individuals or entities, as long as they are clearly identified in the will.
Yes, a person can revoke or change a specific legacy at any time before their death by creating a new will or codicil.
If the specific item or property no longer exists at the time of the testator’s death, the specific legacy will fail, and the intended recipient will not receive anything.
Yes, like any other provision in a will, a specific legacy can be challenged or contested if there are grounds to believe that the testator lacked testamentary capacity or was unduly influenced.
Yes, a specific legacy can be subject to taxes or debts owed by the deceased person’s estate. The recipient may need to satisfy any outstanding obligations before receiving the specific legacy.
Yes, once the specific legacy is received, the recipient has the right to sell or transfer the item or property as they see fit, unless there are specific restrictions mentioned in the will.
Yes, a specific legacy can be given to a minor, but it may be subject to certain legal restrictions. In such cases, a guardian or trustee may be appointed to manage the specific legacy until the minor reaches a certain age.
Yes, a specific legacy can be given to a charity or organisation, provided that it is properly identified and legally recognized.
In general, a specific legacy cannot be challenged solely on the grounds of being unfair or unequal. However, if there are valid legal reasons to believe that the specific legacy was the result of fraud, duress, or undue influence, it may be subject to challenge.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 13th April 2024.
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